Inventory shortage ( if there ever was any) seems to be talked about less and less as builders throughout Loudoun county VA have several new single family detached homes and townhouses under construction. I estimate over 100 townhouses are currently being built on route 690 right next to Southern States Coop. They will be available this fall, which is just around the corner! And nearby in Round Hill VA at Sleeter Lake there are over 50 detached homes currently under construction. http://oakhillproperties.com/neighborhoods/the-villages-at-round-hill-virginia/
I've also noticed an increase in the rate that lenders are getting foreclosed homes ready for market. Some of these homes have been sitting empty for 2 years or more. I've had buyers wanting to buy a couple of them over the last few months, but they weren't ready to be sold. I really wish lenders would quit advertising foreclosed homes for sale on Trulia and Zillow, etc, when the homes aren't really for sale.
So it's obvious to me that inventory is set to increase at a fairly fast pace over the next few months. The prices ( even though they are base prices) seem to be attractive for the size homes being advertised! It looks like many buyers are going to be comparing new construction with resales, so pricing should remain competitive for a while.
http://www.tollbrothers.com/VA/Purcellville_Green
Jeff Pearl / Lic in VA
Remax Distinctive - Reston VA
703-727-4876
Homes / Land / Farms / Historic
www.jeffpearlhomes.com
Equal Housing Opportunity Provider
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